News Room
Weyerhaeuser Completes Sale of Assets to International Paper
Aug 4, 2008
FEDERAL WAY, Wash., August 4, 2008 — Weyerhaeuser Company (NYSE: WY) today announced the completion of the sale of its Containerboard Packaging and Recycling business to International Paper (NYSE: IP) for $6 billion in cash.
Weyerhaeuser said it expects to use a substantial portion of the after-tax proceeds from the sale to pay down debt.
The transaction includes nine containerboard mills, 72 packaging locations, 10 specialty-packaging plants, four kraft bag and sack locations and 19 recycling facilities. (See list at end of release for locations.) Approximately 14,000 employees will transfer from Weyerhaeuser to IP as a result of the transaction.
“International Paper is gaining some of the best people and facilities in the world and our employees are joining a leader in this industry,” said Daniel S. Fulton, Weyerhaeuser president and chief executive officer. “At the same time, this transaction allows Weyerhaeuser to continue to refine its focus as a timber-based company with businesses that enhance the value of our timberlands.”
Weyerhaeuser Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com.
Location List
Nine containerboard mills (6.3 million tons capacity)
Alabama: Pine Hill
California: Oxnard
Iowa: Cedar Rapids
Kentucky: Henderson
Louisiana: Campti
Oklahoma: Valliant
Oregon: Albany, Springfield
Mexico: Xalapa
72 packaging locations (99.4 billion square feet capacity)
Alabama:Huntsville
Arizona: Phoenix, Yuma
Arkansas: Fort Smith,Russellville
California: Anaheim, Camarillo, Compton, Elk Grove, Exeter, Modesto, Salinas, Sanger, Santa Paula
Colorado: Golden
Florida: Plant City, Tampa
Georgia: Columbus, Griffin, Lithonia
Illinois: Aurora, Bedford Park, Belleville, Lincoln, Montgomery, Rockford
Indiana: Butler, Indianapolis
Iowa: Cedar Rapids, Waterloo
Kansas: Kansas City
Kentucky: Bowling Green, Louisville
Michigan: Three Rivers, Warren
Minnesota: Austin, Fridley, St. Paul, White Bear Lake
Mississippi: Jackson, Magnolia, Olive Branch
Missouri: Maryland Heights, St. Joseph
Nebraska: Omaha
New Jersey: Barrington, Bellmawr
New York: Rochester
North Carolina: Charlotte, Lumberton, Newton
Ohio: Delaware, Eaton, Mount Vernon
Oklahoma: Oklahoma City
Oregon: Beaverton, Portland
Tennessee: Cleveland
Texas: Amarillo, Dallas, McAllen, Sealy
Virginia: Lynchburg
Washington: Bellevue, Moses Lake, Olympia, Yakima
Wisconsin: Manitowoc
Mexico: Ixtac, Mexico City, Monterrey, Silao
10 specialty packaging plants
California: Cypress
Georgia: Tucker
Illinois: Aurora
Indiana: Indianapolis
Kentucky: Richwood
North Carolina: Charlotte
Ohio: Delaware
Oregon: Beaverton, Hillsboro, Salem
Four kraft bag and sack locations (199,000 tons capacity)
California: Buena Park
North Carolina: Charlotte
Oregon: Beaverton
Texas: Dallas
19 recycling facilities
Arizona: Phoenix
California: Fremont, Los Angeles/Norwalk, West Sacramento
Colorado: Denver
Illinois: Chicago/Itasca
Iowa: Des Moines
Kansas: Wichita
Maryland: Baltimore
Minnesota: New Brighton
Nebraska: Omaha
North Carolina: Charlotte
Oregon: Beaverton, Eugene
Tennessee: Memphis
Texas: Carrollton
Utah: Salt Lake City
Virginia: Richmond
Washington: Kent
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